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Berkshire to buy P&G's Duracell in stock swap

Warren Buffett's firm will turn over US$4.7b of P&G shares it holds

MR BUFFETT: Berkshire's chairman is narrowing his company's equity portfolio

New York

BERKSHIRE Hathaway Inc has agreed to buy the Duracell battery business from Procter & Gamble Co (P&G) in a stock swap as chairman Warren Buffett narrows his company's equity portfolio and extends a bet on operating businesses.

Berkshire will turn over US$4.7